News / per-aarsleff-holding-a-s-launches-share-buy-back-programme

31.08.2018 - Company announcement

Per Aarsleff Holding A/S launches share buy-back programme

The Board of Directors of Per Aarsleff Holding A/S has decided to use its authority to let the company buy back own B shares.

The purpose of the share buy-back is to meet Per Aarsleff Holding A/S’s obligations arising from the share-based incentive programme for the employees (employee share programme with matching shares).

Period and maximum value of the share buy-back programme
The share buy-back programme will run from 3 September 2018 to 2 November 2018, both days inclusive. During this period, Per Aarsleff Holding A/S will buy back B shares up to a maximum value of DKK 30 million in accordance with the Safe Harbour rules of Regulation (EU) No. 596/2014 of 16 April 2014 of the European Parliament and Council and Commission Delegated Regulation (EU) 2016/1052.

Share buy-back terms

  • Per Aarsleff Holding A/S has entered into an agreement with Nordea Danmark (branch of Nordea Bank AB (publ), Sweden) to handle the share buy-back as lead manager.
  • The maximum total consideration for B shares bought back in the period of the programme is DKK 30 million, and Per Aarsleff Holding A/S can acquire a maximum of 104,359 B shares.
  • No shares must be bought back at a price exceeding the higher of the two following prices (i) the price of the latest independent transaction and (ii) the highest current independent bid on Nasdaq Copenhagen A/S at the time of trading.
  • The maximum number of B shares of the company to be bought back on each business day will be equivalent to 25% of the average daily trading volume of the company’s B shares traded on Nasdaq Copenhagen during the preceding 20 business days.

A company announcement of any transactions under the programme will be published by Per Aarsleff Holding A/S each week throughout the duration of the share buy-back programme.